Haven't read 'Debt' yet and he probably dogs into it more there, but Graeber mentions in 'Dawn of Everything' that plenty of cultures would routinely wipe away debts (typically as a way to self-consciously avoid stratefying society, or conversely to enforce a new hierarchy)
they'd never lend for terms longer than a few years but that's probably not a bad thing. it ties housing and car prices to people's incomes, capping how much they can increase in cost at in the rate of inflation.
financialization is a way for the capitalists to invent profit that isn't tied to productive development. it's not something worth protecting.
Since these Democrat debt jubilees always seem to come with means testing or other conditions, I'm sure that certain loans will be exempted no matter what
aren't debt jubilees an ancient tradition? shouldn't we be doing them every 7 years?
Haven't read 'Debt' yet and he probably dogs into it more there, but Graeber mentions in 'Dawn of Everything' that plenty of cultures would routinely wipe away debts (typically as a way to self-consciously avoid stratefying society, or conversely to enforce a new hierarchy)
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Same. The main point was that money wasn’t invented to make barter easier. Or something.
It was good though.
yea that's where I got the idea lol
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I mean, a frequent and predictable pattern of jubilees would result in lenders never lending.
they'd never lend for terms longer than a few years but that's probably not a bad thing. it ties housing and car prices to people's incomes, capping how much they can increase in cost at in the rate of inflation.
financialization is a way for the capitalists to invent profit that isn't tied to productive development. it's not something worth protecting.
Could be a fair point.
Since these Democrat debt jubilees always seem to come with means testing or other conditions, I'm sure that certain loans will be exempted no matter what
:galaxy-brain:
Guess we’ll just have to rob them then